The Rolex Forums   The Rolex Watch

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX


Go Back   Rolex Forums - Rolex Forum > Classifieds > WatchOut!!!

Reply
 
Thread Tools Display Modes
Old 26 August 2024, 02:32 AM   #1
ed94582
"TRF" Member
 
Join Date: May 2009
Real Name: Ed
Location: SF Bay Area
Watch: BNLR, SS Daytona,
Posts: 76
Reasonable trade in values using Chrono 24 as a guide

Understanding there could be a great deal of variance here — what would your experience be of a reasonable expectation of trade in values using the Chrono 24 estimated watch value calculations.

Say purchasing from a trusted seller grey market dealer on the TRF and meeting their listed advertised price without negotiating down.

Trade value of 90% of Chrono 24? 85%? 80%?

Thoughts greatly appreciated.
ed94582 is offline   Reply With Quote
Old 26 August 2024, 02:36 AM   #2
1st amg
2024 SubLV41 Pledge Member
 
1st amg's Avatar
 
Join Date: Jun 2013
Real Name: nicholas
Location: ottawa canada
Watch: Rolex,AP,Panerai
Posts: 10,384
I feel it is always off. Go with the lowest priced one of the model you are looking at and deduct another 10%
1st amg is offline   Reply With Quote
Old 26 August 2024, 02:40 AM   #3
ZOOK
2024 SubLV41 Pledge Member
 
ZOOK's Avatar
 
Join Date: Sep 2017
Real Name: Dave
Location: PDX
Posts: 9,910
Quote:
Originally Posted by ed94582 View Post
Understanding there could be a great deal of variance here — what would your experience be of a reasonable expectation of trade in values using the Chrono 24 estimated watch value calculations.

Say purchasing from a trusted seller grey market dealer on the TRF and meeting their listed advertised price without negotiating down.

Trade value of 90% of Chrono 24? 85%? 80%?

Thoughts greatly appreciated.



There's your first mistake!!!! Always, negotiate.
ZOOK is offline   Reply With Quote
Old 26 August 2024, 02:57 AM   #4
omar-rye
"TRF" Member
 
omar-rye's Avatar
 
Join Date: Feb 2020
Location: Underground
Posts: 2,657
The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.
omar-rye is offline   Reply With Quote
Old 26 August 2024, 02:58 AM   #5
ed94582
"TRF" Member
 
Join Date: May 2009
Real Name: Ed
Location: SF Bay Area
Watch: BNLR, SS Daytona,
Posts: 76
Quote:
Originally Posted by ZOOK View Post


There's your first mistake!!!! Always, negotiate.

Yes. But if you are planning on trading in - the only number that matters is the delta b/t the selling price and trade in. So I’m trying to establish a baseline for negotiation. It’s like buying a car with a trade in.

I’d rather pay 100% of the advertised price if I got 90% of the Chrono 24 estimated value on trade vs. a 20% discount from the seller but only 60% on trade value.
ed94582 is offline   Reply With Quote
Old 26 August 2024, 03:03 AM   #6
omar-rye
"TRF" Member
 
omar-rye's Avatar
 
Join Date: Feb 2020
Location: Underground
Posts: 2,657
Which reference are you thinking of trading in? Full kit, condition, year?
omar-rye is offline   Reply With Quote
Old 26 August 2024, 03:09 AM   #7
ed94582
"TRF" Member
 
Join Date: May 2009
Real Name: Ed
Location: SF Bay Area
Watch: BNLR, SS Daytona,
Posts: 76
Quote:
Originally Posted by omar-rye View Post
The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.

Quote:
Originally Posted by omar-rye View Post
The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.

Understood. But I’m not using retail price as a gauge for value but rather market value from Chrono24.


For example - what is the best way to establish the wholesale price. And then if I were trading in based on wholesale value- I would expect some negotiation on the sellers listed price.
ed94582 is offline   Reply With Quote
Old 26 August 2024, 03:13 AM   #8
ed94582
"TRF" Member
 
Join Date: May 2009
Real Name: Ed
Location: SF Bay Area
Watch: BNLR, SS Daytona,
Posts: 76
Quote:
Originally Posted by 1st amg View Post
I feel it is always off. Go with the lowest priced one of the model you are looking at and deduct another 10%

Thanks. This is a good point and better reflects current market value.
ed94582 is offline   Reply With Quote
Old 26 August 2024, 03:18 AM   #9
omar-rye
"TRF" Member
 
omar-rye's Avatar
 
Join Date: Feb 2020
Location: Underground
Posts: 2,657
Quote:
Originally Posted by ed94582 View Post
Understood. But I’m not using retail price as a gauge for value but rather market value from Chrono24.


For example - what is the best way to establish the wholesale price. And then if I were trading in based on wholesale value- I would expect some negotiation on the sellers listed price.
If I were in your shoes, this is what I would do: I would get in touch with 2-3 other dealers, not including the dealer who has the watch you want to trade for. Offer them your watch and see what they would pay you. You can also fill out trade in applications with Luxury Bazaar, 1916 Company, Delray Watches, or whichever online dealer you prefer, and see how they respond.
omar-rye is offline   Reply With Quote
Old 26 August 2024, 03:31 AM   #10
WristWatchWonders
"TRF" Member
 
Join Date: May 2022
Location: Earth
Posts: 561
Look at WatchCharts as well. My understanding is WatchCharts tracks actual sale price while Chrono24 tracks asking price on the platform.

The more information you have, the better.

Sent from my moto g 5G - 2023 using Tapatalk
WristWatchWonders is offline   Reply With Quote
Old 26 August 2024, 03:31 AM   #11
Robison347
2024 Pledge Member
 
Join Date: Feb 2023
Real Name: John Robison
Location: Massachusetts, US
Watch: Blue dial sub
Posts: 79
Let’s say there is a $3,000 profit built into the price of the watch you want to buy. That is not unreasonable for a Rolex in the $12-15k price range. Let’s say you have a watch of similar value, but a different model. The dealer is going to want to get the same $3k profit on your old watch, and he has to allow some $ for inspection and service, so that might mean he’ll offer $4k below the price he will ask for it.

On a Rolex in that price range, that is what I’d expect. It’s just like selling used cars or anything else.
Robison347 is offline   Reply With Quote
Old 26 August 2024, 03:43 AM   #12
Harry-57
2024 Pledge Member
 
Harry-57's Avatar
 
Join Date: Apr 2018
Real Name: Harry
Location: England
Posts: 10,653
Start speaking to dealers and let us know how you get on. We can only guess and it would be useful to get some real feedback.
Harry-57 is offline   Reply With Quote
Old 26 August 2024, 03:48 AM   #13
Robf52
"TRF" Member
 
Robf52's Avatar
 
Join Date: Nov 2019
Location: Sunshine State
Watch: lots of Rolex
Posts: 5,060
Quote:
Originally Posted by wristwatchwonders View Post
look at watchcharts as well. My understanding is watchcharts tracks actual sale price while chrono24 tracks asking price on the platform.

The more information you have, the better.
+1.
__________________
126610LV//116508 Daytona YG Black/Champagne
116655 YM40 Everose Oysterflex//126622 YM40 Blue//126600 SD43
126710BLNR//126711CHNR
126334 DJ41 Rhodium/Diamonds//126331 DJ41 TT Wimbledon
124300 OP41 Green//126334 DJ41Mint Green
Robf52 is offline   Reply With Quote
Old 26 August 2024, 03:51 AM   #14
daysky1
"TRF" Member
 
Join Date: Aug 2020
Location: Earth
Posts: 434
Quote:
Originally Posted by ed94582 View Post
Understanding there could be a great deal of variance here — what would your experience be of a reasonable expectation of trade in values using the Chrono 24 estimated watch value calculations.

Say purchasing from a trusted seller grey market dealer on the TRF and meeting their listed advertised price without negotiating down.

Trade value of 90% of Chrono 24? 85%? 80%?

Thoughts greatly appreciated.
On chrono24 Chrono 24 charges a six and a half percent of the sale price. So if you're talking to somebody that has the watch advertised on Chrono 24 to specific price I would at the very least expect to pay six and a half percent less if I go Direct to the company that has the watch advertised on chrono24. this is a question that I have called many of the gray Market dealers about and they've all seem to be favorable toward doing it this way fYI. what you don't know is how much less than that they are willing to negotiate to so it doesn't hurt to try.
daysky1 is offline   Reply With Quote
Old 26 August 2024, 03:54 AM   #15
brandrea
2024 SubLV41 Pledge Member
 
brandrea's Avatar
 
Join Date: Jul 2013
Real Name: Brian (TBone)
Location: canada
Watch: es make me smile
Posts: 77,942
In my experience, you end up selling privately for about 20% less than the C24 price.

If you’re selling to a gray dealer it’s more like 30-40% depending on the reference
brandrea is offline   Reply With Quote
Old 26 August 2024, 04:13 AM   #16
omar-rye
"TRF" Member
 
omar-rye's Avatar
 
Join Date: Feb 2020
Location: Underground
Posts: 2,657
Quote:
Originally Posted by daysky1 View Post
On chrono24 Chrono 24 charges a six and a half percent of the sale price. So if you're talking to somebody that has the watch advertised on Chrono 24 to specific price I would at the very least expect to pay six and a half percent less if I go Direct to the company that has the watch advertised on chrono24. this is a question that I have called many of the gray Market dealers about and they've all seem to be favorable toward doing it this way fYI. what you don't know is how much less than that they are willing to negotiate to so it doesn't hurt to try.
Good point

Quote:
Originally Posted by brandrea View Post
In my experience, you end up selling privately for about 20% less than the C24 price.

If you’re selling to a gray dealer it’s more like 30-40% depending on the reference
That’s been my experience as well. I sold my 214270 privately for 40% more than what the dealers offered me.
omar-rye is offline   Reply With Quote
Old 26 August 2024, 04:13 AM   #17
brandrea
2024 SubLV41 Pledge Member
 
brandrea's Avatar
 
Join Date: Jul 2013
Real Name: Brian (TBone)
Location: canada
Watch: es make me smile
Posts: 77,942
Quote:
Originally Posted by omar-rye View Post
Good point



That’s been my experience as well. I sold my 214270 privately for 40% more than what the dealers offered me.




Sent from my iPhone using Tapatalk
brandrea is offline   Reply With Quote
Old 26 August 2024, 04:20 AM   #18
~JJ
"TRF" Member
 
~JJ's Avatar
 
Join Date: Feb 2012
Location: Chicago
Watch: explorer
Posts: 2,289
Quote:
Originally Posted by brandrea View Post
In my experience, you end up selling privately for about 20% less than the C24 price.

If you’re selling to a gray dealer it’s more like 30-40% depending on the reference
^ realistic results
~JJ is offline   Reply With Quote
Old 26 August 2024, 04:25 AM   #19
brandrea
2024 SubLV41 Pledge Member
 
brandrea's Avatar
 
Join Date: Jul 2013
Real Name: Brian (TBone)
Location: canada
Watch: es make me smile
Posts: 77,942
Quote:
Originally Posted by ~JJ View Post
^ realistic results




Sent from my iPhone using Tapatalk
brandrea is offline   Reply With Quote
Old 26 August 2024, 04:40 AM   #20
Roddypeepa
"TRF" Member
 
Roddypeepa's Avatar
 
Join Date: Feb 2019
Real Name: Mark
Location: Southern England
Watch: DJ41 SubC SMP mast
Posts: 1,683
Reasonable trade in values using Chrono 24 as a guide

I think it will depend on local markets and how much of a safe bet/risk it is.

For example, a clean gmt ii will be an easy sell at the right price but something like a Yachtmaster less easy. So I think prices will reflect that. I’d expect a bigger difference in some of the popular
On here but less popular with the general public.

I also think some dealers are absolute jokers in how much profit they want -£1500 for a sub, 2.5 k for a gmt etc.

these are the kind with YouTube channels whereas the “old school” dealers who have been in business decades can see the bigger picture and value long term customers over the here and now.
Roddypeepa is offline   Reply With Quote
Old 26 August 2024, 04:43 AM   #21
Mathematoxic
"TRF" Member
 
Join Date: Jan 2022
Location: Asia
Posts: 461
Depending on the model..
Comparing trusted dealers prices(reasonable ones) on trf Vs wholesale price :
Stainless steel sports models are between $1k to $2k difference.
Gold Daytonas $3k to $7k
Stainless steel datejust $1.5k to $2k

General rule is : The lower the demand, the bigger the delta.
Mathematoxic is offline   Reply With Quote
Old 26 August 2024, 10:23 AM   #22
ed94582
"TRF" Member
 
Join Date: May 2009
Real Name: Ed
Location: SF Bay Area
Watch: BNLR, SS Daytona,
Posts: 76
Quote:
Originally Posted by Mathematoxic View Post
Depending on the model..
Comparing trusted dealers prices(reasonable ones) on trf Vs wholesale price :
Stainless steel sports models are between $1k to $2k difference.
Gold Daytonas $3k to $7k
Stainless steel datejust $1.5k to $2k

General rule is : The lower the demand, the bigger the delta.

Agreed it depends on the model. I was hoping to have some reference for demand and trade in values when trading say an AP Diver and a Panerai White Dial Submersible for a white gold Rolex Sub. Maybe it’s the current lowest priced on C24 minus 10% as someone suggested when paying full asking price from the Trusted Seller.
ed94582 is offline   Reply With Quote
Old 6 September 2024, 06:14 AM   #23
Calatrava r
2024 SubLV41 Pledge Member
 
Join Date: Mar 2017
Location: United States
Watch: Rolex and Patek
Posts: 11,383
Quote:
Originally Posted by omar-rye View Post
The trade in value will be based on the wholesale price. The dealer will offer you what they could buy your watch for from their wholesale contacts. In today’s market, wholesale prices are generally much more than just 10% below retail, except for a few pieces that still sell above retail.
Absolutely, the selling prices on Chrono24 mean nothing in terms of trade-in value. That is the wholesale used market dealer buy price and that will vary somewhat among the dealers depending on what their needed margins are. The more established a dealer is, the less they need to pay as more people will want to deal with them because of their reputation. The hotter the watch the less the margin generally.
Calatrava r is offline   Reply With Quote
Old 6 September 2024, 06:34 AM   #24
subtona
"TRF" Member
 
subtona's Avatar
 
Join Date: Jan 2011
Real Name: gus
Location: East Coast
Watch: APK & sometimes Y
Posts: 26,583
As a general guide I would say on average c24 is 20% higher than reality
__________________
subtona is offline   Reply With Quote
Old 6 September 2024, 01:51 PM   #25
offrdmania
2024 SubLV41 Pledge Member
 
offrdmania's Avatar
 
Join Date: May 2008
Real Name: Matt
Location: Wine Country, Ca
Posts: 5,996
You can never go off of asking price. Anyone can ask whatever they want.

I like using eBay for market analysis because you can search the sold prices.
__________________
TRF Member 11738
offrdmania is offline   Reply With Quote
Old 6 September 2024, 04:37 PM   #26
LJubel328
"TRF" Member
 
LJubel328's Avatar
 
Join Date: Jan 2019
Location: U.S.
Posts: 857
Quote:
Originally Posted by subtona View Post
As a general guide I would say on average c24 is 20% higher than reality

I’d say 10-20% sounds about right depending on model.

OP, if you’re looking for trade-in value expect a dealer to offer you less than the amount after the 10-20%


Sent from my iPhone using Tapatalk
LJubel328 is offline   Reply With Quote
Old 5 October 2024, 11:19 PM   #27
Ozboy
2024 Pledge Member
 
Join Date: Apr 2021
Real Name: John
Location: Australia
Posts: 71
Quote:
Originally Posted by 1st amg View Post
I feel it is always off. Go with the lowest priced one of the model you are looking at and deduct another 10%
Could not agree more. This is exactly what I offer as advice to those who ask me or say that they can get more for their watch because they saw it offered for more on C24; however, I usually say 15-20% off. I think it's dealer controlled.
Ozboy is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Asset Appeal

Wrist Aficionado

DavidSW Watches

Takuya Watches

OCWatches


*Banners Of The Month*
This space is provided to horological resources.





Copyright ©2004-2024, The Rolex Forums. All Rights Reserved.

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Rolex is a registered trademark of ROLEX USA. The Rolex Forums is not affiliated with ROLEX USA in any way.